Chainlink cryptocurrency can be expected to rise further toward the next resistance level 11.50 (former support from the middle of October).
- Chainlink reversed from support zone
- Likely to rise to resistance level 11.50
Chainlink cryptocurrency recently reversed up from the support zone between the support level 10.80 (which has been reversing the price from September, as can be seen from the daily Chainlink chart below), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse (1) from August. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Harami, which stopped the previous short-term downward impulse from the start of November.
Given the strength of the support level 10.80, which so far offsets the bearish crypto sentiment seen today on continued outflows from US spot Bitcoin ETFs, Chainlink cryptocurrency can be expected to rise further toward the next resistance level 11.50 (former support from the middle of October).
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